Using an Annual Interest Rate of 9%, How Long Will

question 104

Multiple Choice

Using an annual interest rate of 9%, how long will it take a deposit of $1,000 to grow to $3,000, assuming no additional deposits are made?

• A)8.04 years
• B)10.00 years
• C)11.11 years
• D)12.75 years
• E)13.50 years

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